Shanghai Aerospace Automobile Electromechanical Co., Ltd. Highlights 2008
Business Highlights
(In million yuan)
| 2008 | 2007 | Difference(%) | Factors | |
| Sales | 1,235.03 | 1,350.83 | (8.6) | - Sales of automotive parts remained at the same level as a year ago. Revenues declined at the new energy division, which includes solar cell business, due to the impact of the global financial crisis. |
| Operating profit |
23.50 | 53.87 | (56.4) | |
| Ordinary profit | 45.99 | 67.25 | (31.6) | |
| Net profit | 36.75 | 57.07 | (35.6) |
R&D
R&D structure
The Company conducts R&D activities for air conditioners, solar energy, and composite materials at respective research centers specially designed to cover each area.
Development of new products
<Development projects at Shanghai Xinguang Automotive Electrical Equipment Co., Ltd.>
- The Company has been working on a joint project with Dongfeng-Peugeot-Citroen Automobile since April 2008 to develop a circuit breaker box for six terminals. The company, at the request of Dongfeng-Peugeot-Citroen Automobile, has now advanced the supply launch date for these circuit breakers from the end of March to the beginning of February 2009. (From a press release, January 4, 2009)
- Since its design plan for the ZP11 fuse box, which the company is developing through its first joint project with SAIC Motor, passed a council screening in December 2008, the company began prototype production of the fuse box. (From a press release, January 15, 2009)
Investment Activities
Capital Investment Projects FY2008
| Project | Amount invested in FY2008 (in million yuan) |
Progress |
| Expanding R&D facility | 27.3 | Under construction |
| Establishing a new plant at Shanghai Composite High-Tech Development Co.,Ltd. | 37.5 | Completed |